Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0099%/8h= −10.8% APRpaid last 24h −0.061%

Price spread now: gTrade (Gains Network) against KuCoin+0.015%7-day average −0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$548as in the Price arb table

costs, in and out, $10k−$5525.515% of the position

Long on KuCoin Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)−0.043%−$4 on $10k

Price spread, last 4 days (all we have)+0.053%+$5 · spread now +0.015%, 7d avg −0.024%

Together, before fees+0.010%+$1 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.039% dearer against KuCoin than usual: you sell high and buy low (spread +0.015% now, against its 7-day average of −0.024%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 31 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin COPPERUSDTM	6.8260	0.0100	pay 0.0050% / 4h	1h 24m	$258K	$21K	50x
Short	gTrade (Gains Network) HG/USD	6.8270	L +0.0002% / S −0.0001%	get 0.0000% / 1h	24m 07s	$178K	—	250x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee KuCoinbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.015%Rate

Funding earned: −$20.7
Price spread: +0.015% → −0.024%: $3.86
Slippage, 4 orders: −$529.53
Fee KuCoin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$568.37
Costs to cover: 5.515%
Break-even: never at this rate

Slippage from KuCoin: live order book, 72 min ago; gTrade (Gains Network): virtual book (oracle venue), 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy KuCoin live order book, 72 min ago	13.23 bp	49.0 bp −$49	685.8 bp −$6,858	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 5 min ago	130.01 bp	213.6 bp −$214	1617.5 bp −$16.2K	doesn't fit	doesn't fit

COPPER on 28 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX COPPER-USD	0.0000%	1h	6.8280	+0.029%	$1.5M	$129K	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8287	+0.040%	$32K	$21K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8304	+0.064%	$9.1M	$32.5M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8255	−0.007%	$471K	$948K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.8100	−0.234%	$1.3M	$491K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8270	+0.015%	$26.1M	$4.2M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8330	+0.103%	$1.7M	$985K	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8241	−0.028%	$743K	$1.4M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8270	+0.015%	$94K	$2.1M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8280	+0.029%	—	$6.7M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX COPPER-USDT	0.0000%	4h	6.8280	+0.029%	$61K	$24K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.8090	−0.249%	$4.2M	$75K	100x	as long as short
edgeX COPPERUSDC	0.0000%	4h	6.8228	−0.046%	$94K	$317K	20x	as long as short
gTrade (Gains Network) HG/USDshort	L +0.0002% / S −0.0001%	1h	6.8270	+0.015%	$178K	—	250x
Phoenix COPPER	+0.0012%	1h	6.8263	+0.004%	$45K	$23K	20x	as long as short
BloFin COPPER-USDT	+0.0031%	4h	6.8230	−0.044%	$88K	$143K	100x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8264	+0.006%	—	$82K	25x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8261	+0.001%	$2K	$2K	5x	as long as short
tradeXYZ xyz:COPPER	+0.0050%	1h	6.8275	+0.022%	$10.5M	$4.8M	20x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8262	+0.003%	$904	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8286	+0.038%	$57K	$55K	15x	as long as short
Lighter XCU	+0.0072%	1h	6.8398	+0.202%	$479K	$39K	20x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8267	+0.010%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTMlong	+0.0100%	4h	6.8260	long leg	$258K	$21K	50x
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8350	+0.132%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8281	+0.031%	$312	—	10x	as long as short
Kraken Futures PF_XCUUSD	+0.0195%	1h	6.8279	+0.028%	$32K	$176K	20x	as long as short
Extended XCU-USD	+0.0648%	1h	6.8263	+0.005%	$227K	$2.8M	20x	as long as short